Crypto
Missing Cryptoqueen Ruja Ignatova’s links to Bulgaria underworld
BBC Eye Investigations, Panorama team and The Missing Cryptoqueen podcast,BBC World Service and BBC News
ShutterstockNow we have gone on her trail to try to discover her fate. BBC Eye Investigations and Panorama have looked at her close ties to a suspected Bulgarian organised crime boss and allegations she was brutally murdered. Did Ms Ignatova enjoy the stolen billions or was she killed by the very people paid to protect her?
Oxford University graduate Ruja Ignatova was born in Bulgaria and raised in Germany, pursuing a successful career in finance before launching the cryptocurrency OneCoin in 2014.
Ms Ignatova convinced millions of people around the world to invest in OneCoin, promising to eclipse the kind of huge returns seen by early Bitcoin investors.
But in reality, Ms Ignatova – known to many as Dr Ruja – had created a cleverly-disguised investment fraud, without the digital record that underlies legitimate cryptocurrencies like Bitcoin.
As investigators from Germany and the US closed in on Ms Ignatova in October 2017, she took an early morning Ryanair flight from Sofia to Athens, never to be seen again.
For the past year, BBC World Service’s Eye Investigations and Panorama have been trying to find out more about what happened to her, and whether she is even alive.
Key to this was establishing who her inner circle was.
Richard Reinhardt, who began the investigation into OneCoin for the US Internal Revenue Service alongside the FBI, told the BBC about a key character investigators have never publicly named before.

The Missing Cryptoqueen: Dead or Alive?
CEO of fake cryptocurrency OneCoin, Ruja Ignatova, is the FBI’s most wanted woman. She stole billions, then vanished. New evidence reveals what may have happened. Is she missing or was she murdered?
Watch now on BBC iPlayer (UK only) or on BBC One at 20:00 on Monday 3 June (22:40 in Wales). Outside of the UK, watch on YouTube
Or listen to The Missing Cryptoqueen on BBC Sounds

The BBC understands it is the man who had been given the role of keeping Ms Ignatova safe – Hristoforos Nikos Amanatidis, commonly known as Taki.
“We were told, allegedly a big-time drug guy was in charge of her physical security,” Mr Reinhardt told us in his first interview since retiring in late 2023.
“Taki came up more than once, it wasn’t like it was a one-off. That was a recurring theme.”
This chimed with the information we already had – US government lawyers had said in 2019 that Ms Ignatova’s head of security was a major organised crime figure in Bulgaria but hadn’t named him.
“We do have evidence that a very significant, if not the most prolific, drug trafficker of all time in Bulgaria, was closely linked to OneCoin – served as [Ruja Ignatova’s] personal security guard,” an assistant attorney said.
This was the same “head of security” a different US government lawyer said was “involved in the disappearance” of Ms Ignatova in court a day earlier.

According to Mr Reinhardt, Ms Ignatova was a far more sophisticated criminal than most people realise.
“This is like a white-collar criminal combined with a drug trafficker or mafia guy on steroids.”
This theory appears to be supported by leaked Europol documents, seen by the BBC, which show that – before Ms Ignatova disappeared in 2017 – Bulgarian police had established connections between her and Taki.
In the documents, police suspect Taki of using OneCoin’s financial network to launder the proceeds of drug trafficking.
In his native Bulgaria, Taki has an almost mythical status – an El Chapo or Pablo Escobar. He is widely suspected of being the head of a Bulgarian organised crime organisation and a prolific drug smuggler. He and his associates have been investigated there for armed robbery, drug smuggling and murder, but he has never been successfully prosecuted for anything.
Interpol“When we talk about Taki, he’s the head of the mafia in Bulgaria. He’s extremely powerful,” says a former Bulgarian deputy minister, Ivan Hristanov, who in 2022 investigated allegations Taki ran a criminal network with the help of corrupt officials – and believes that was the case.
“Taki is the ghost. You’ll never see him. You only hear about him. He’s talking to you through other people. If you don’t listen, you just disappear from earth.”
“The only person who can protect her [Ignatova] from all those investigations, including from foreign agencies – it was Taki.”
The BBC wrote to the Bulgarian government about the allegations regarding corrupt officials. It did not respond. The prosecutor’s office in the capital Sofia says it “does not cover up crimes and persons who have possibly committed crimes”.
Taki is now believed to live in Dubai, where Ms Ignatova bought a luxury penthouse and where her bank accounts received tens of millions of dollars from the OneCoin fraud.
While it’s not known how Taki and Ms Ignatova met, or whether he was involved with OneCoin from the start, multiple sources say they had a close personal relationship and that he was the godfather to her daughter.
One Bulgarian source close to Ms Ignatova told the BBC she may have paid Taki up to €100,000 a month for protection
There appear to be other financial ties between Ms Ignatova and Taki.
The Europol documents mention a complex deal to sell a plot of land, on Bulgaria’s Black Sea coast, that links one of Ms Ignatova’s companies to Taki’s wife.
The secret police documents were passed to the BBC by Frank Schneider, a former spy and adviser to Ms Ignatova who has since disappeared.
He told us that his old boss was working with “crooks” and “gangsters”.

When we interviewed Mr Schneider at his home in France, he was under house arrest, awaiting extradition to the US in connection to the OneCoin scam. He was not, however, prepared to reveal names.
“I’m not going to tell you who, because I have a family… This is real serious organised crime.”
But in the end, Ms Ignatova’s protector may have turned aggressor.
In 2022, Bulgarian investigative journalist Dimitar Stoyanov and his colleagues at the investigative news outlet bird.bg were handed a police report that had been found at the home of a murdered Bulgarian police officer.
In the document, a police informant details overhearing Taki’s brother-in-law drunkenly saying Ms Ignatova had been murdered on Taki’s orders in late 2018, and her body dismembered and dumped off a yacht in the Ionian Sea. Mr Stoyanov says this account is “very, very possible”.
The authenticity of the police document was confirmed by Bulgarian officials, and multiple criminal associates of Taki believe the theory he had her murdered to be true, Mr Stoyanov says.
However, the BBC has been unable to independently verify the claim.
The associates’ rationale being that the wanted Ms Ignatova became a liability to Taki, who wished to eliminate his links to the OneCoin fraud.
Those associates include Krasimir Kamenov, known as Kuro, wanted by Interpol on murder charges.
Mr Stoyanov says Kuro told him he had heard Taki discussing his criminal business in front of Ms Ignatova, and when Kuro had challenged Taki on whether he should be doing that, Taki had answered: “Don’t worry, she’s as good as dead.”
Kuro had also claimed to have talked to the CIA about Taki, including about the allegation that Taki had ordered Ms Ignatova’s murder. Sources close to Kuro confirmed to the BBC that this meeting took place in late 2022.
In May 2023, Kuro was assassinated in his Cape Town home, along with his wife and two others who worked for him. South African police are still searching for the killers, but Bulgarian former deputy minister Hristanov believes Kuro’s murder is linked to Taki.
“Certain people had to be removed because they knew too much about Taki.
“It was kind of a public execution that looked more like a statement. Be careful who you deal with,” he told us.
Since publishing allegations of Ms Ignatova’s murder, journalist Dimitar Stoyanov says he and his colleagues have faced death threats, forcing him to temporarily leave Bulgaria for the fourth time in his career.
Mr Stoyanov doesn’t claim to know a motive for any alleged murder, but property records show, and eyewitnesses have told him, that since her disappearance, a number of her Bulgarian properties are now being used by people connected to Taki.

Taki has never been arrested over claims he had Ms Ignatova murdered. Her body has never been found and investigators say they don’t have enough evidence to prosecute him.
But former IRS investigator Richard Reinhardt thinks Ms Ignatova is likely to be dead. Although he has not seen any evidence linking her death to Taki, he says it fits with how drugs cartels operate.
“There’s no honour among thieves… knowing how violent cartels are, if [Taki] thought she was a threat to him… he would probably take her out instead of getting caught.”
The BBC wrote to Taki’s lawyers about the allegations in this investigation – they didn’t respond.
In 2022, Ms Ignatova was placed on the FBI’s Ten Most Wanted list – where she remains today.
The BBC team behind The Missing Cryptoqueen podcast has received various sightings and tip-offs about Ms Ignatova’s whereabouts after her alleged murder took place – including details of an unsuccessful police operation in Greece to catch her in 2022.
It could be that rumours of her death are just another brilliant manoeuvre to throw everyone off the scent.
If that is the case, as the years go by, it is likely to become increasingly difficult for her to stay on the run.
“At some point it becomes like Elvis Presley might be still alive… It’s not really very likely,” says Mr Hristanov.
According to Mr Reinhardt, the FBI “don’t just keep people in [the] Top Ten list for fun”. But they would only remove someone if there was “definitive proof” they were dead. And given the circumstances, with Ruja Ignatova there may never be.
And that means, for now at least, the missing Cryptoqueen remains a hunted woman.
Crypto
New law regulates cryptocurrency kiosks in Wisconsin to protect against scams
WAUSAU, Wis. (WSAW) – A Wisconsin bill creating regulatory requirements for cryptocurrency kiosks is now law, aiming to protect people from scams involving the machines.
The Wood County Sheriff’s Department has been investigating scams involving cryptocurrency kiosks for more than three years and helped craft the new law.
Several people from the Wood County Sheriff’s Department have been testifying in Madison and educating people about these scams.
“And that’s something that is always an important part, but when you can get something out statutorily to protect people, that’s even better,” Becker said.
Daily limits and victim reimbursement
The law puts $1,000 daily transaction limits on the machines and requires machine operators to reimburse victims who report scams to law enforcement within 30 days.
Sheriff Shawn Becker said the department began investigating after receiving a complaint from a citizen who was scammed out of thousands.
“When we got the initial complaint from one of our citizens came in and was scammed $9,000. And then we were, these crypto ATMs were new to there and new to the country,” Becker said.
The department began seizing cash from the machines after people were scammed, holding it as evidence. They would return money to victims, but cryptocurrency companies sued over the practice.
“So we had to change our tactics and we would still serve the warrant, but now we hold that cash here at the sheriff’s department until we get a court order,” Becker said. “I think it really made a difference to get where we’re at now.”
New requirements for operators
The law requires operators to add warning labels to kiosks. Cryptocurrency kiosks also have to be more than five feet away from an ATM.
Kiosk operators must take reasonable steps to detect and prevent fraud. They need to provide notices of virtual kiosks locations to law enforcement before the first transaction on that machine.
“I’m very proud of our department, our investigators that working together with the legal justice system to be part of something that has changed and protected people from being scammed,” Becker said.
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Crypto
Op-Ed by Corbin Fraser, CEO of Bitcoin.com: The Bitcoin President Is Making Our Case for Us
What a difference eighteen months makes.
As I write this, a two-week ceasefire between the United States and Iran is hours old. Whether it holds is anyone’s guess. The war that the U.S. and Israel launched on February 28 has already killed American service members, destroyed universities and elementary schools, closed the Strait of Hormuz, and sent shockwaves through every market on the planet. The president who promised to end wars threatened, in his own words, that “a whole civilization will die tonight.” Iran’s ambassador at the United Nations called it incitement to genocide. Experts are debating whether the targeting of bridges, railways, and power grids constitutes war crimes. Children in Tehran are dead.
This is not what we signed up for.
The Bitcoin community did not coalesce around a political candidate so that he could become the latest patron of the military-industrial complex. The very machine, by the way, that Bitcoin was conceptually designed to defund. Satoshi’s whitepaper was published in the wreckage of 2008, a year when the Federal Reserve printed billions to bail out banks while governments spent trillions waging wars most citizens never asked for. Bitcoin was, from its genesis block, a protest against exactly this: the unchecked power of states to debase currency in service of violence.
I want to be clear about something: the crypto community’s natural disgust for war is not a political posture. It is a foundational value. We believe that when governments can’t print money at will, they can’t wage wars at will. That is the entire point. What is happening in Iran is a humanitarian catastrophe. Reports of children killed in residential neighborhoods, a major university bombed, human chains of young people forming around power plants to shield them from American missiles. These are not abstractions. They are the human cost of the very system Bitcoin was built to opt out of.
The two-week ceasefire, brokered through Pakistan’s intervention, is a fragile reprieve. Iran has accepted negotiations in Islamabad beginning Friday. But we have already seen what happens when diplomacy is sabotaged. Iran’s IRGC intelligence chief was assassinated mid-conflict, negotiators have been targeted, and the pattern of setting deadlines only to extend them has made the entire process feel performative. Time will tell if this ceasefire holds.
What won’t change is the math. Wars cost money. Money comes from somewhere. And when governments run out of honest revenue, they print. Every dollar created to fund conflict is a dollar that steals purchasing power from the people who earn it. Every bomb dropped on Iranian bridges is paid for with dollars. Every aircraft carrier repositioned to the Persian Gulf runs on the full faith and credit of the United States Treasury. Every escalation widens the deficit, increases the pressure on the Fed, and further erodes the credibility of the dollar as a neutral global reserve currency.
Bitcoin fixes this. Not through slogans, but through mathematics. A hard cap of 21 million. No Federal Reserve. No emergency printing. No backdoor funding of wars the public never authorized.
To my fellow travelers in the Bitcoin and crypto space: I understand the disillusionment. Many of us believed that political engagement would accelerate adoption and protect our industry. But we should never have expected a politician, any politician, to embody the values of decentralization. That was always our job. Bitcoin doesn’t need a president. It needs users. It needs people who look at what’s unfolding on their screens right now and decide they’d rather hold an asset that no government can inflate to fund the next war.
If the intent of Trump as the de facto “ Bitcoin President” is to embolden our beliefs more in voting with our feet, in selling more USD for BTC, then he’s doing a hell of a job.
_________________________________________________________________________
Bitcoin.com accepts no responsibility or liability, and shall not be liable, whether directly or indirectly, for any loss, damage, claim, cost, or expense of any kind, whether actual, alleged, or consequential, arising out of or in connection with the use of, or reliance upon, any content, goods, or services referenced in this article. Any reliance placed on such information is strictly at the reader’s own risk.
Crypto
Strategy Signals Bitcoin Supply Shock With 2.2x New BTC Supply Acquired and 24,675 BTC Gain
Key Takeaways:
- Strategy Inc. reported acquiring 94,470 BTC in 2026, reaching 2.2x bitcoin supply absorption.
- Bitcoin treasury metrics indicate 3.7% yield, generating 24,675 BTC worth about $1.7 billion.
- Michael Saylor stated sub-$100K bitcoin window may close in 2026 amid rising demand.
Strategy Bitcoin Accumulation Outpaces Network Supply Growth
Strategy Inc. (Nasdaq: MSTR) shared on social media platform X on April 7 that it accumulated bitcoin faster than new issuance. The firm emphasized supply absorption and yield performance. The update framed its activity against bitcoin’s fixed issuance schedule and tightening supply dynamics.
The update outlines year-to-date performance figures showing acquisition at 2.2 times the natural bitcoin supply alongside a BTC yield of 3.7% and a BTC gain of 24,675, valued at approximately $1.7 billion. The accompanying image breaks down how this performance developed across both quarterly and cumulative periods. In Q1 2026, Strategy reported acquiring 89,599 BTC while generating a BTC yield of 3.2% and a BTC gain of 21,329. The visual also presents a corresponding dollar gain of $1.4 billion for the quarter. Year-to-date totals extend these figures to 94,470 BTC acquired, reflecting continued accumulation and improved yield efficiency over time.
Bitcoin Supply Mechanics Highlight Strategy Market Impact
Bitcoin supply mechanics provide the baseline for measuring this activity. Following the 2024 halving, each mined block produces 3.125 BTC, while the network averages about 144 blocks per day. This results in roughly 450 BTC entering circulation daily, a figure observable through on-chain data. Over a period of roughly 90 to 100 days, issuance totals about 40,000 to 45,000 BTC. Against this level, Strategy’s reported acquisition of 94,470 BTC results in a ratio slightly above 2.0x, aligning with its stated 2.2x depending on timing and block production variability.
Strategy Executive Chairman Michael Saylor framed this dynamic through the concept of supply absorption, describing how capital access allows entities to outpace bitcoin’s fixed issuance. He recently stated: “We can buy more bitcoin than they can sell.” With roughly 450 BTC produced daily, sustained buying can absorb both newly mined coins and available exchange liquidity. Saylor also described a reflexive flywheel, where capital raises fund additional bitcoin purchases, reducing available supply and increasing volatility. The approach emphasizes that bitcoin’s limited supply creates competition among market participants, framing the asset as digital property with constrained acreage. He added: “2026 will be known as the last year you could buy bitcoin at sub-$100K.”
Additional dashboard data expands on the company’s broader financial and market positioning alongside its bitcoin strategy. Strategy shows a share price of $123.63 with a daily decline of 3.18%, while reporting a market capitalization of $42.88 billion and an enterprise value of $59.17 billion. The dashboard lists trading volume at $724 million and a 30-day average trading volume of $2.62 billion. Volatility metrics include 76% implied volatility, 55% 30-day historical volatility, and 72% one-year historical volatility. The company also reports open interest of $29.97 billion, an mNAV ratio of 1.13, and an amplification figure of 36%, indicating how equity performance relates to underlying bitcoin exposure.
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